Paying up for iconic cards of inner circle Hall of Famers like Ruth, Cobb, Wagner is solid long-term advice. But are not any cheap Ruth, Cobb, Wagner cards.
Sometimes there are cards/sets outside the big four sports that are lottery tickets.
David Peck has posted on this board many times above the explosion in values of the 1982-83 Wrestling All Star sets. Peck has written on here that he bough his first Hulk Hogan card (that ultimately graded PSA 9) for $50. That card is now a $2,500 card in that grade. Peck also wrote he never thought he would see high grade commons from those sets selling for $1,000.
On the whole, though, when looking to make money, put your cash into a diversified mutual fund. There aren't any dividends with cards.